Search form

Search form

The generic drug industry is becoming more competitive as upstart manufacturers from places such as India enter the market, big pharmaceutical firms such as Pfizer introduce generics when their own patents expire and product recalls spook pharmacy chains.

Related Summaries

A Pfizer official said the drug giant is optimistic that its pipeline, which includes medicines owned by Wyeth, will produce blockbuster drugs that would replace sales of products facing patent expiration. "We're in the golden age of drug discovery. We have a very replete pipeline in key areas such as cancer, Alzheimer's disease, pain and inflammation" and infectious diseases, said Martin Mackay, president of pharmaceutical research.

The FDA has stopped canola meal from ADM Agri-Industries' crushing plant in Alberta after discovering traces of salmonella contamination. Dave Hickling, vice president of utilization for the Canola Council of Canada, said authorities and canola crushers are working on best-management-practice guidelines trying to reduce contamination risks at such facilities.

The new CMS administrator will face a variety of challenging issues, including rebuilding the agency's reputation, establishing the CMS Innovation Center, increasing efforts to root out fraud and waste, and handling the influx of new Medicaid recipients.

Despite rhetoric from the Obama administration, corporations that reported large accounting writedowns were simply complying with regulations. Securities and Exchange Commission rules require companies to disclose the present value of future tax liability, regardless of any potential cost-savings in the future.